westpac broking, page-54

Howdy

In answer to your questions:

1) All orders that are placed outside of regular market hours are put into a "referred" status. This means the order must be manually reviewed by a DTR to ensure it doesnt violate any market integrity rules. As to whether or not other brokers use a similar system for verifying orders I could not say for certain, but I would assume they have some kind of manual system for checking orders. Your particular order would have been referred because it was placed outside market hours, not because it had a different price to the "indicative" market price.

2) There is no maximum time as such, though every attempt is made to ensure the orders are processed as quickly as possible.

3) If you feel you were disadvantaged by the order not trading then you should lodge a formal complaint and the matter will be investigated by the Senior complaints manager.